Investment Education Trading Topics Order Types Advanced Orders One Cancels All Order (OCA)
Advanced Orders
A One Cancels All (OCA) order group is a combination of orders that work together. You enter at least two orders as part of an OCA order group. If one order executes, then the remaining orders will be automatically cancelled.
If you want to spend a certain amount of money in the near term, you might identify two or three stocks to buy if their prices reach your limit price. If you spend your money on the one that reaches your designated price first, the other orders are cancelled.
Example
After researching several companies, you've decided that you would be interested in purchasing stock in one of three companies. To do this, you would place a One Cancels All order.
Company A is currently trading at $30. You place a limit order to buy Company A if it drops to $25.
Company B is currently trading at $32. You place a limit order to buy Company B if it drops to $28.
Company C is currently trading at $35. You place a limit order to buy Company C if it drops to $30.
Company A and B remain steady and are thinly traded, so the price does not fluctuate as you expected. Company C decreases dramatically and triggers your limit order. Because the order for Company C executed, then that automatically cancels the orders for Company A and Company B.
Advanced orders are only available for listed equities trading at $1.00 per share or higher, exchange-traded funds (ETFs), and options.
Investors should consider the investment objectives, risks, charges, and expenses of an Exchange Traded Fund (ETF) carefully before investing. A prospectus contains this and other information about the ETF and can be obtained from the issuer. The prospectus should be read carefully before investing.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in Scottrade's Options Application and Agreement, Brokerage Account Agreement, and Characteristics and Risks of Standardized Options (available at your local Scottrade branch office or from the Options Clearing Corporation at 1-888-OPTIONS or by visiting www.888options.com). All option accounts require prior approval by Scottrade. Market volatility, volume, and system availability may impact account access and trade execution. Supporting documentation for any claims will be supplied upon request.
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Any specific securities, or types of securities, used as examples are for demonstration purposes only. No information on this Web site should be considered a recommendation or None of the information provided should be considered a recommendation or solicitation to invest in, or liquidate, a particular security or type of security.
Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund carefully before investing. A mutual fund's prospectus contains this and other information about the mutual fund. Prospectuses are available through our trading site or through a Scottrade branch office. The prospectus should be read carefully before investing. No transaction fee (NTF) funds are subject to the terms and conditions of the NTF funds program. Scottrade is compensated by the funds participating in the NTF program through recordkeeping, shareholder, or SEC 12b-1 fees.
Investors should consider the investment objectives, charges, expense, and unique risk profile of an Exchange Traded Fund (ETF) carefully before investing. Leveraged and Inverse ETFs may not be suitable for long-term investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies. A prospectus contains this and other information about the ETF and should be obtained from the issuer. The prospectus should be read carefully before investing.
Margin trading involves interest charges and risks, including the potential to lose more than deposited, or the need to deposit additional collateral in a falling market. Margin Disclosure Statement (PDF) is available for download, or it is available at one of our branch offices. It contains information on our lending policies, interest charges, and the risks associated with margin accounts.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, and by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from your local branch office. Supporting documentation for any claims will be supplied upon request.
Market volatility, volume, and system availability may impact account access and trade execution.
Testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.